Mesa Guard with RMD Free Withdrawal
Mesa Guard with RMD Free Withdrawal
About Product
Traditional Fixed Annuity Interest Rates
| Surrender Years | First Year Yield | Term Guaranteed Yield | Term Current Yield |
|---|---|---|---|
| 5 | 5.75% | 3.54% | 5.75% |
Riders & Features (included)
Bailout Rider: Mountain Life’s Mesa Guard is a single premium tax-deferred fixed annuity that can provide favorable interest crediting. The first year will credit 6% - Guaranteed. After the first year the company may adjust the crediting rate. However, if the crediting rate falls below 5% during years 2-5, the client may opt out of the contract – penalty free, without surrender charges or MVA (market value adjustment). Initial fixed interest rate guarantee period: 1 year Eligible Ages: 0-90 Premium: Single Premium Minimum Premium: $5,000 Maximum Premium: $1,000,000 (without home office approval).
Market Value Adjustment Rider: A Market Value Adjustment will apply to withdrawals from the policy unless otherwise waived. The market value adjustment is based on the amount surrendered, withdrawn, or applied to an annuity option reduced by the amount of any remaining free withdrawal amount. The MVA may increase or decrease the amounts payable. The market value adjustment factor will never exceed the difference between the cash surrender value without the market value adjustment and the minimum nonforfeiture amount, positive or negative.
5% Free Withdrawal: The Owner may take partial withdrawals of up to 5% of the previous year-ending Accumulation Value in policy years 2 and greater without Surrender Charge of Market Value Adjustment.
Riders (optional): Election results in a reduction of 25 bps to rate.
- RMD Free Withdrawal Rider (Qualified Plans)
- 10% Free Withdrawal Rider (Non-Qualified Plans)
Minimum surrender and withdrawal amount: $100. Minimum account balance after surrenders and withdrawals: $2,000
Annuitization
Beginning at the first contract anniversary, you may elect to have the account value annuitized to you under an annuity option.
Riders
| Name | Inbuilt | Fee |
|---|---|---|
| 10% Free Withdrawal with RMD (Qualified) | Yes |
Waivers
Bail-Out
Mountain Life’s Mesa Guard is a single premium tax-deferred fixed annuity that can provide favorable interest crediting. The first year will credit 6% - Guaranteed. After the first year the company may adjust the crediting rate. However, if the crediting rate falls below 5% during years 2-5, the client may opt out of the contract – penalty free, without surrender charges or MVA (market value adjustment).
Nursing Home
This rider provides for withdrawal of Accumulation Value without surrender charge after a specified period of continuous confinement in a Nursing Home.
Terminal Illness
This rider provides for withdrawal of Accumulation Value without surrender charge after a specified period of being diagnosed with a Terminal Illness.
Annuitization
Beginning at the first contract anniversary, you may elect to have the account value annuitized to you under an annuity option.
Surrender Window
At the end of the Surrender Charge Period, the owner has the option to continue the contract with successive one-year rate guarantees, with a 30-day period following each policy anniversary during which the owner may take a partial or full surrender without a surrender charge or market value adjustment.
RMD
The product includes Penalty-Free Withdrawal Provisions for RMD.
- A.M. Best B-
